New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1887-09-20
IHE DOINGS OF IVES IN OHIO.
HOW AN ISSUE OF STOCK WAS AGREED TO.

PARCELLIHG OUT THE PREFERRED STOCK OF THR
CINCINNATI HAMILTON AND DAYTON-REDUC-
ING THE ESTIMATE OF WHAT MUST BE PAID.
CINCINNATI Sept 19.-The Commercial 6asetes report
Of the hearing to-day at Hamilton. Ohio Of the Cncin
natl, Hamilton and Dayton Railroad case, In which
receiver Is applied for says: Mr.. Waite, pending examt
nation. asked leave to correct apparent
which appeared in that part OF his testimony In regard
to the changing of his report When first asked about
tho subject he had used the word "thsy repeatedly.
meaning stayner aud Ives Mcssrs 6tayner and Ives
together whom the subject was broached subse'
queny he had learned from Mr. stayner that Mr. Ives
had made tho change Mr.. Waite the point developed
being one, next questioned ~ follows
Q-I viii ask you to state If You remsmber whether
not the preferred stock voted BY tho stockholders
meeting Ssidi ALThe msstias was held 10 Cincinnati Ny
recollection Is that the question OF tine right OF the pre-
Of preferred common the teers submitting their
port without acting upon the question as to whether THO
embraces that clause as read at the meeting here
QIn your mony In chief page 50. you testified
resolution $50 against It, and the telers reported
without passing the question Of It's right to vote Is
the minutes It is according to my recollection never
eli it be trno that 27137 shares of preferred stock
voted, tell whether part of this not
there outside Of this $4,000 900, 1000 900 Of pre-
fcrred stock that could have voted at that time A
Yes there must have been some OF that preferred stock
voted at that time.
Q.-HOw much now, does that show Of the preferred
stock that voted at that time Assuming, as you
say that the whole one million that was authorized 10 Dc
issued voted. IL would indicate @l,7SS,0OO.
The deposition Of Julius Dexter received, OF which
the following the main paints:
Aant says that he has investigated the transactions
OF Ives and Sayner during their connection with the de-
fenant and finds that aside from the Indebtedness or
Ives and staypcr to the defendant AS shown by the ac-
counts Of the company (which Indebtedness alone
amounts TO 4S2 36 said Ives and Stayner issued
aant believes about $40 000 900 OF preferred stock
that of said preferred stock there found In the
vaults of Ives Co. 52.594 shares which were cancelled
with their assent prior to their assignment
SecOnd-fhere also 500 shares in tho hands OF the
assignee Of Ives Staynsr to which he has right as
against tho defendant and which Will DO cancelled as
tained. The balance OF said shares were issued,
aiant Is informed and believes by Ives ano stay.
others. without any consideration whatever therefor
Except possibly In the OF SOL shares received by
the defendant, and thereupou were delivered by Ives
and stayner to third persons to secure ndivdus op
cations Of Ives and Stayner 10 such third persona In
instances preferred stock held by third persons
collateral security. held In connection with other
collateral securities OF such value that, after such
other collateral securities exhausted tho balance OF
the obligations against the said preferred STOCK would
not be large.
For instance. Ives purchased yacht at the price Of
by mortgage upon tho yacht aud deposit OF $50 shares
OF said preferred Aiant informed and believes
that the mortgage the yacht will cancel the obl.
CATION and that nothing nothing substantlan WILL
like character with respect TO the preferred stock
Fifteen thousand eight hundred shares OF preferred
Garrett 10 secure contract made between Garrett and
Ives and for the purchase by the latter from
tho former Of certain shares OF stock In the Baltimore
and Ohio Railroad Company and aiian informed and
retain the stock and that the same Will be delivered 10
tie defendant without cost to II.